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Economy

Westpac Profits Plunge but they Won’t Bail-In Redraws

Westpac profits plunge but they won’t bail in redraws like ME.

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References

Westpac rules out tapping into home loan redraw facilities after ME Bank’s move sparked outrage

https://www.abc.net.au/news/2020-05-04/westpac-will-not-take-cash-from-home-loan-accounts/12213408

Westpac profit plunges 70 per cent as cost of coronavirus is exposed

https://www.news.com.au/finance/business/banking/westpac-profit-plunges-70-per-cent-as-cost-of-coronavirus-is-exposed/news-story/8b289ffe654bfe89bde2a59c8aca840d